FORM T85
This is in reply to Mr. D. Jones' T782 dated July 26, 1989.
Our review of form T85 was based on the Nova Scotia Income Tax Act taking into account any proposed amendments announced in the provincial budget of May 9, 1989. We have ignored grammatical and typographical errors, language style and layout, unless they are believed to clearly resuolt in incorrect or misleading information being given to taxpayers.
We have only one comment with respect to items (1) and (2) of the fifth bullet note. We suggest the replacement of "credit available to" with "credit earned by". The present wording incorrectly indicates that trusts and partnerships may deduct the research and development tax credit that has not been allocated to a beneficiary or partner, respectively.
A.G. Cockell Director Technical Interpretations Division Legislative and Intergovernmental Affairs Branch